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Speculation at Oracle OpenWorld continued to swirl around what Larry Ellison will say Wednesday. In the past two earnings calls, the Oracle CEO has hinted (not very subtly) about a new killer capability in the database that will preserve and build on its marketshare lead. Some partners say their Oracle reps have continued to feed the rumor mill, promising technology that will bring “extreme performance” to the fore.

“The things you need for that are excellent clustering and in-memory database capability, ” said one partner. Oracle today said a point upgrade (Oracle 11.1.0.7 to be exact) that will add an in-memory database cache option from TimesTen. So that may be one piece of the puzzle. A more major R2 release of the database is also expected.

Ellison and Oracle president Chuck Phillips have said that whatever’s being cooked up will open whole new markets to the company. One thing’s for sure: You can never predict what Ellison will say. A few years ago he pre-announced a price cut in Oracle sofftware that no one in his PR or marketing department had heard about. The look on the corp comm woman’s face when asked about it is indelibly etched: She blanched.

Time will tell if this mysterious killer app is more hype than reality.

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